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19 February, 22:34

You can purchase an item you need for a project for $10,000 and it has daily operating costs of $500, or you can lease the item for $700 per day. On which day will the purchase cost be the same as the least cost?

A) Day 5

B) Day 10

C) Day 50

D) Day 100

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Answers (1)
  1. 19 February, 22:43
    0
    Option (C) Day 50

    Explanation:

    Data provided in the question:

    Purchasing cost of the item needed in project = $10,000

    Daily operating cost = $500

    Lease amount per day received = $700

    Now,

    For the purchase cost be the same as the least cost

    The total cost should be equal to the total lease received

    let the 'x' be the day on which purchase cost is equal to lease cost

    thus,

    $10,000 + $500x = $700x

    or

    ($700 - $500) x = $10,000

    or

    $200x = $10,000

    or

    x = 50

    Hence,

    Option (C) Day 50
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